The UK-based maker of therapies for the central nervous system which spun off from UK university King's College London could deliver as much as a 57 times return for IP Group if performance targets are met. The deal also secures an exit for Denmark-listed drugs developer H Lundbeck.
IP Group, a UK-based intellectual property commercialisation company, has secured a 35 times return on the sale of one of its companies.
IP Group received £15.4m from the sale of its portfolio company Proximagen Group, a UK-based maker of therapies for the central nervous system, at £3.20 per share, to USL Pharma International UK, a wholly-owned subsidiary of Upsher-Smith Laboratories, for up to £356.8m. It said this equated to a 35 times return on its original investment.
IP Group owns…
